B2B: 83% Of Companies to Increase Digitalization Budget

March 9, 2022

 

A survey report carried out by Copperberg and commissioned by Intershop and Evident, found that 83% of B2B companies are looking to give a boost to their digital transformation in 2022 by increasing their budget in digital business strategies. Hoping to tap into new market opportunities.

(Copperberg looked at) more than 50 European B2B manufacturers with a turnover of at least 250 million euros. B2B manufacturers are willing to invest in digitalization. According to 41 percent of respondents, this is due to the need to expand and tap into new revenue streams.

The survey also found that 24% of respondents admitted to also feel the need to create new business models due to the recent global shift to digital solutions. With the help of digital tools, 19% are hoping to increase productivity, revenue or cost reduction. 

Not all B2B companies are on the same page, however, while the majority are looking to increase their digital budget by at least 20% in 2022, 15% of companies will maintain their budget, and 2% are looking to decrease their digitalization budget by %1 to 20%

At least 71 percent of the respondents said their organizations are ambitious to take their digitalization to the next level in 2022. Of that group, 24 percent want to become market leaders with their digital business strategies.

Digitalizing

There is a certain ‘digital maturity’ level necessary to achieve these goals, at least 44% of respondents believe their digital tools are on par with the competition, 31% say they are already ahead and 2% believe they are far ahead.

58% of surveyed manufacturers are using ecommerce solutionsk, 59% are using tools such as Electronic Data Interchange, and 59% are using digital marketing tools.

To further improve their digital strategy, most of the surveyed manufacturers are looking at tools aimed at simplifying their sales processes not only for the company,  but also for its customers.

Among the solutions responders are looking into, 36% want to use configure-price-quote (CPQ) systems, and 37% mentioned data platforms to help the online sales process to become more data-driven and personalized.

As customers’ buying preferences shift toward outcomes over products, service is becoming a critical piece in the revenue model for businesses. The customer will seek information online and also expect inventory and parts to be fully available; the information should be streamlined and transparent, which ecommerce is a catalyst for

Many companies are looking into further digitizing their processes in order to keep up with customer demand.

Want to learn more? Check out Ecommercenews Europe’s full write-up here.

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